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Testing For The Existence Of Price Points In Retail Milk Scanner Data Using Microeconomic Theory

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  • Veeramani, Venkat N.
  • Maynard, Leigh J.

Abstract

Many in the private sector believe that price points have important implications for pricing strategy. Methods to identify and incorporate price points in demand systems were developed. Empirical tests identified price points in milk scanner data, but failed to find strategically meaningful differences among splines defined by the price points.

Suggested Citation

  • Veeramani, Venkat N. & Maynard, Leigh J., 2004. "Testing For The Existence Of Price Points In Retail Milk Scanner Data Using Microeconomic Theory," 2004 Annual meeting, August 1-4, Denver, CO 20378, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea04:20378
    DOI: 10.22004/ag.econ.20378
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    References listed on IDEAS

    as
    1. Arthur Lewbel, 2003. "A rational rank four demand system," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 18(2), pages 127-135.
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    3. Davidson, Russell & MacKinnon, James G., 1993. "Estimation and Inference in Econometrics," OUP Catalogue, Oxford University Press, number 9780195060119.
    4. Maynard, Leigh J., 2000. "Empirical Tests Of The Argument That Consumers Value Stable Retail Milk Prices," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 18(2), pages 1-18.
    5. Arthur Lewbel, 1989. "Exact Aggregation and a Representative Consumer," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 104(3), pages 621-633.
    6. McGuirk, Anya M. & Driscoll, Paul J. & Alwang, Jeffrey Roger & Huang, Huilin, 1995. "System Misspecification Testing And Structural Change In The Demand For Meats," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 20(1), pages 1-21, July.
    7. Lewbel, Arthur, 1991. "The Rank of Demand Systems: Theory and Nonparametric Estimation," Econometrica, Econometric Society, vol. 59(3), pages 711-730, May.
    8. John Muellbauer, 1975. "Aggregation, Income Distribution and Consumer Demand," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 42(4), pages 525-543.
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    Cited by:

    1. Möser, A. & Herrmann, R., 2006. "Die Bedeutung psychologischer Preisschwellen in Preisstrategien des Lebensmitteleinzelhandels," Proceedings “Schriften der Gesellschaft für Wirtschafts- und Sozialwissenschaften des Landbaues e.V.”, German Association of Agricultural Economists (GEWISOLA), vol. 41, March.

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    Keywords

    Demand and Price Analysis;

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